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Enforcement
Malaysia Extradites Former Goldman Banker to US
By Editors | 07/05/2019
Extradited from Malaysia, the former Goldman Sachs banker Roger Ng has pleaded not guilty to 1MDB-related charges in the US, and has been released under house arrest.
AML / KYC
Philippine FIU Seeks an End to Bank Secrecy Law
By Editors | 07/05/2019
The AML Council is seeking additional powers to combat financial crime, including the lifting of the bank secrecy law, which would allow it to check all accounts regardless of transaction thresholds.
AML / KYC
US Judge Subpoenas Chinese Banks in Sanctions Probe – Report
By Editors | 07/05/2019
A US federal judge has ordered three Chinese banks to provide documents in relation to a Hong Kong company which allegedly helped North Korea evade international sanctions.
Market Infrastructure
CFTC Chairman Seeks Formal Guidance on Phase 5 Initial Margin
By Manesh Samtani | 06/05/2019
Chairman Giancarlo seeks regulatory guidance clarifying that entities with calculated initial margin amounts less than $50mn need not make preparations to exchange initial margin.
Market Infrastructure
Securities Association Says MPFA Needs to Enable China Market Access
By Editors | 06/05/2019
MPF managers are allowed to invest in 40 approved overseas exchanges, but this does not include exchanges in China.
AML / KYC
Japan to Halt Overseas Transfers that Bypass Bank Accounts
By Editors | 06/05/2019
In preparation for this year’s FATF review, Japanese banks will reportedly terminate counter services for overseas remittances that bypass bank accounts.
Securities / Derivatives
MPF Needs Greater Access to China Markets – HKIFA
By Editors | 24/04/2019
Hong Kong fund managers are asking for Shanghai and Shenzhen to be included in the list of overseas markets approved for MPF investment.
Market Infrastructure
Settlement Workflow Needs to be Fully Automated – DTCC
By Editors | 18/04/2019
Settlement processes are attracting more attention as regulators require shorter and more certain settlement, with potential penalties for noncompliance.
Enforcement
Goldman, Credit Suisse Raided in Seoul in Samsung BioLogics Probe
By Editors | 15/04/2019
Prosecutors are reportedly looking for information about a scrapped Nasdaq listing of a Samsung BioLogics subsidiary, to shed light on possible accounting irregularities.
Market Infrastructure
US SEC Recognises NZX as Designated Offshore Market
By Editors | 11/04/2019
NZX participants will no longer be required to maintain a reasonable belief that clients are non-US domiciled persons in order to trade on their behalf.
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